3i of the UK today announced that it had invested $20 million in Giza Venture Capital’s fourth fund. 3i invests $300 million a year in technology companies at various stages. Investments in Israel to date include OmniGuide, TeleKnowledge, and Transtech Control Ltd..
3i manages $10 billion, making venture capital, private equity and buy-out investments in Europe, the US, and Asia. The company’s investment in Giza is intended to expand investment in Israeli companies.
3i Venture Capital global head Jo Taylor said, "The combined promise of Israeli companies and a general upswing in the health of global technology market makes this a good time for 3i to invest in the region. Today, emerging technology companies need to internationalize at an earlier stage in their development and 3i's investment in this leading Israeli fund allows us to deploy our international expertise and contacts to add value to Israeli companies."
3i partners Patrick Sheehan and Ali Erfan will manage 3i's venture interests in Israel.
Giza chairman Zeev Holtzman said, “3i's global network outside of Israel is second to none; a fantastic resource and its broad platform is complementary to Giza's early stage investment strategy. Through this partnership, we are excited to offer the young companies we back exposure to their target markets early on. We have created here a win-win situation."
Giza has raised $150 million for its fourth fund. Additional investors in the Giza IV Fund include California Public Employees Retirement System (CalPERS) - $10 million; California State Teachers’ Retirement System (CalSTRS) -$20 million; Alpinvest Holding NV; and Executive Yuan Development Fund of Taiwan - $13 million.
Published by Globes [online], Israel business news - www.globes.co.il - on March 7, 2006